3M Co. (NYSE: MMM) has completed the $1 billion acquisition of Polypore International Inc.’s (NYSE: PPO) separations media business.
The target makes membrane technology and ultrafiltration products that are used mainly for blood treatments in the life sciences and pharmaceutical sectors. Ultrafiltration is a process that separates tiny particles from membranes. The acquired business has $210 million in annual sales and will become part of 3M’s industrial business group.
3M CEO Inge Thulin said at the time the deal was announced in February that the acquisition will give the company many growth opportunities across a number of sectors including life sciences, water treatment and industrial. Thulin added that there is a large consumer demand for membrane and filtration products.
St. Paul, Minnesota-based 3M, the maker of Post-it, announced plans to buy Ivera Medical Corp. for undisclosed terms. Ivera makes products that disinfect and protect medical devices that are used to access a patient’s blood stream.